Arab Today, arab today forex house fxcm gets 300m rescue after swiss franc hit
Last Updated : GMT 19:52:56
Arab Today, arab today
Arab Today, arab today

Forex house FXCM gets $300m rescue after Swiss franc hit

Arab Today, arab today

Arab Today, arab today Forex house FXCM gets $300m rescue after Swiss franc hit

Currency rates
New York - AFP

US foreign exchange broker FXCM was given a $300 million cash injection Friday after client losses on the sharp surge in the Swiss Franc left it on weak capital footings.
The funds came from Leucadia National Corp in the form of a secured two-year term loan with a hefty 10 percent interest rate, the two firms said in a statement.
The loan "will permit FXCM to meet its regulatory-capital requirements and continue normal operations after yesterday's loss of $225 million due to the unprecedented actions of the Swiss National Bank."
FXCM said early Friday that it faced problems meeting regulatory capital requirements after clients ran up huge losses which their accounts could not cover.
The company's shares plummeted 90 percent before the US markets opened and were immediately suspended on the New York Stock Exchange after trade began.
"We could not be more grateful to Leucadia and its team for their rapid and effective response and to our regulators, who have been willing to work with us through this challenging process," said Drew Niv, FXCM chief executive.
"Leucadia's support and this financing are by far the best alternative for FXCM, our customers, our shareholders, and all other relevant constituencies."
Leucadia, a holding company, is the parent of investment bank Jefferies Group, which itself rescued a major broker, Knight Capital, after it foundered in 2012.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today forex house fxcm gets 300m rescue after swiss franc hit Arab Today, arab today forex house fxcm gets 300m rescue after swiss franc hit

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today forex house fxcm gets 300m rescue after swiss franc hit Arab Today, arab today forex house fxcm gets 300m rescue after swiss franc hit

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday